Instagram CEO Kevin Systrom speaks during a press event at Facebook headquarters on June 20, 2013 in Menlo Park, California. Systrom announced that Facebook's photo-sharing subsidiary Instagram will now allow users to take and share video. less

Instagram CEO Kevin Systrom speaks during a press event at Facebook headquarters on June 20, 2013 in Menlo Park, California. Systrom announced that Facebook's photo-sharing subsidiary Instagram will now allow ... more

Photo: Justin Sullivan / Getty Images

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Instagram founder Kevin Systrom talks about an added video feature to the Instagram program at Facebook headquarters in Menlo Park, Calif., Thursday, June 20, 2013.

Instagram founder Kevin Systrom talks about an added video feature to the Instagram program at Facebook headquarters in Menlo Park, Calif., Thursday, June 20, 2013.

Photo: Marcio Jose Sanchez / Associated Press

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Instagram founder Kevin Systrom talks about an added video feature to the Instagram program at Facebook headquarters in Menlo Park, Calif., Thursday, June 20, 2013.

Instagram founder Kevin Systrom talks about an added video feature to the Instagram program at Facebook headquarters in Menlo Park, Calif., Thursday, June 20, 2013.

Photo: Marcio Jose Sanchez / Associated Press

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Instagram founder Kevin Systrom talks about an added video feature to the Instagram program at Facebook headquarters in Menlo Park, Calif., Thursday, June 20, 2013.

Instagram founder Kevin Systrom talks about an added video feature to the Instagram program at Facebook headquarters in Menlo Park, Calif., Thursday, June 20, 2013.

Photo: Marcio Jose Sanchez / Associated Press

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Facebook CEO Mark Zuckerberg listens to Kevin Systrom (not shown), Instagram CEO and co-founder, speak during a press event at Facebook headquarters where a video feature for Instagram was announced on Thursday, June 20, 2013 in Menlo Park, Calif. less

Facebook CEO Mark Zuckerberg listens to Kevin Systrom (not shown), Instagram CEO and co-founder, speak during a press event at Facebook headquarters where a video feature for Instagram was announced on ... more

Photo: Lea Suzuki / The Chronicle

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Instagram CEO Kevin Systrom speaks during a press event at Facebook headquarters on June 20, 2013 in Menlo Park, California. Systrom announced that Facebook's photo-sharing subsidiary Instagram will now allow users to take and share video. less

Instagram CEO Kevin Systrom speaks during a press event at Facebook headquarters on June 20, 2013 in Menlo Park, California. Systrom announced that Facebook's photo-sharing subsidiary Instagram will now allow ... more

Photo: Justin Sullivan / Getty Images

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Facebook CEO Mark Zuckerberg speaks during a press event at Facebook headquarters on June 20, 2013 in Menlo Park, California. Zuckerberg announced a new product relating to that Facebook's photo-sharing subsidiary Instagram. less

Facebook CEO Mark Zuckerberg speaks during a press event at Facebook headquarters on June 20, 2013 in Menlo Park, California. Zuckerberg announced a new product relating to that Facebook's photo-sharing ... more

Photo: Justin Sullivan / Getty Images

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Instagram CEO Kevin Systrom speaks during a press event at Facebook headquarters on June 20, 2013 in Menlo Park, California. Systrom announced that Facebook's photo-sharing subsidiary Instagram will now allow users to take and share video. less

Instagram CEO Kevin Systrom speaks during a press event at Facebook headquarters on June 20, 2013 in Menlo Park, California. Systrom announced that Facebook's photo-sharing subsidiary Instagram will now allow ... more

Video on Instagram gives the 130 million users of the app the ability to post short video clips that can be three to 15 seconds long. In contrast, Vine allows a maximum of six seconds of video.

The new feature opens a potential new revenue stream for Facebook, which paid a premium price to buy Instagram last year. But Instagram co-founder Kevin Systrom insisted the product was not specifically designed to generate new business.

“This is driven by consumer demand, not by business need,” Systrom said during a news conference at Facebook headquarters. “I don’t think we designed it with any advertising in mind.”

The app also includes video stabilization software to eliminate shaky hand productions.

Why did Instagram chose 15 seconds instead of longer or shorter? Systrom said the company tested several lengths and found 15 seconds “was that Goldilocks moment. It feels just right.”

We’ll have more on this announcement later, but for now, check out this video posted by Instagram and Facebook to explain the new product:

And here are a couple of Instagram videos posted by Kobe Bryant and Tony Hawk: